11 Research Department Working Paper ... The Central Bank of the Republic of Turkey CALCULATION OF OUTPUT-INFLATION
... The first two episodes are similar to each other because in both, decline in inflation was mainly due to the base effect. The Gulf War in 1991 and the economic crisis in April 1994 were both associated with high inflation rates hence the periods following these shocks were identified with relativel ...
... The first two episodes are similar to each other because in both, decline in inflation was mainly due to the base effect. The Gulf War in 1991 and the economic crisis in April 1994 were both associated with high inflation rates hence the periods following these shocks were identified with relativel ...
Chapter 16: Monetary Policy
... The prime interest rate is the benchmark interest rate that banks and thrifts use as a reference point for a wide range of loans to businesses and individuals. A change in the Federal funds rate will cause a similar change to the prime rate and other short-term interest rates. ...
... The prime interest rate is the benchmark interest rate that banks and thrifts use as a reference point for a wide range of loans to businesses and individuals. A change in the Federal funds rate will cause a similar change to the prime rate and other short-term interest rates. ...
1997. Paradigms of Development: The East Asian Debate. Oxford
... whole economy, and how these institutions change along the change of economy. While they all explain the important function of institutions in reducing transaction costs, they lack a theory for the origin and the change of institutions. Especially, they seem to overlook the importance of power relat ...
... whole economy, and how these institutions change along the change of economy. While they all explain the important function of institutions in reducing transaction costs, they lack a theory for the origin and the change of institutions. Especially, they seem to overlook the importance of power relat ...
sticky wages
... corresponds to the natural rate of unemployment—that is, the unemployment rate that is consistent with the notion of a fixed long-run output at potential output. U* is the natural rate of unemployment. ...
... corresponds to the natural rate of unemployment—that is, the unemployment rate that is consistent with the notion of a fixed long-run output at potential output. U* is the natural rate of unemployment. ...
Can Government Really Stabilize the Economy?
... During the 1960s Were the data from the 1960s consistent with the predicted shape of the Phillips curve? • Yes. Data from the 1960s reveal the inverse relationship between inflation and unemployment rates. Gottheil - Principles of Economics, 4e © 2005 Thomson ...
... During the 1960s Were the data from the 1960s consistent with the predicted shape of the Phillips curve? • Yes. Data from the 1960s reveal the inverse relationship between inflation and unemployment rates. Gottheil - Principles of Economics, 4e © 2005 Thomson ...
pse14 Burda 19108222 en
... firms and income received by households. The sensitivity of the tax burden to cyclical conditions reinforces the intertemporal response of labor market activity and increases the endogenous propagation of shocks in the model economy. By distinguishing between search and leisure, we account for the p ...
... firms and income received by households. The sensitivity of the tax burden to cyclical conditions reinforces the intertemporal response of labor market activity and increases the endogenous propagation of shocks in the model economy. By distinguishing between search and leisure, we account for the p ...
Exercise 6 (+additional question) in Mankiw:
... total factor productivity between the years? Problem 8.3: Assume an economy which is characterized by perfect competition in the goods and labor market, in which the owners of capital get one-third of national income, and the workers receive two-thirds. Assume a Cobb-Douglas aggregate production fun ...
... total factor productivity between the years? Problem 8.3: Assume an economy which is characterized by perfect competition in the goods and labor market, in which the owners of capital get one-third of national income, and the workers receive two-thirds. Assume a Cobb-Douglas aggregate production fun ...
Liquidity Traps and Expectation Dynamics: Fiscal Stimulus or Fiscal
... in the US and Europe since the 2007-9 financial crisis, as well as in the US during 2001-3 and in Japan since the mid 1990s.1 Recently Bullard (2010) has stressed the risk of extended periods of deflation. These events have led to extensive policy debates on the eectiveness of both fiscal policy an ...
... in the US and Europe since the 2007-9 financial crisis, as well as in the US during 2001-3 and in Japan since the mid 1990s.1 Recently Bullard (2010) has stressed the risk of extended periods of deflation. These events have led to extensive policy debates on the eectiveness of both fiscal policy an ...
Aggregate Demand and Aggregate Supply
... shows the peaks and troughs in American economic activity from 1854. These cycles are both mild and severe. From 1929 to 1933, real GDP in the United States fell by 30 percent, prices fell almost as much, and nominal GDP fell from $103 to $55 billion. The unemployment rate rose to 25 percent. Most e ...
... shows the peaks and troughs in American economic activity from 1854. These cycles are both mild and severe. From 1929 to 1933, real GDP in the United States fell by 30 percent, prices fell almost as much, and nominal GDP fell from $103 to $55 billion. The unemployment rate rose to 25 percent. Most e ...
Ch7
... Suppose that the CPI rises by 3 percent a year each year from now (2008) through 2028. Also suppose that the nominal interest rate on your loan is fixed at 5 percent a year. How much will a $100 repayment cost you in 2008 dollars, when you start to pay off your loan in 2018? How much will a $100 rep ...
... Suppose that the CPI rises by 3 percent a year each year from now (2008) through 2028. Also suppose that the nominal interest rate on your loan is fixed at 5 percent a year. How much will a $100 repayment cost you in 2008 dollars, when you start to pay off your loan in 2018? How much will a $100 rep ...
This PDF is a selection from an out-of-print volume from the... of Economic Research
... models. The first model focuses on sustainability and characterizes its determinants. It suggests that the issue of sustainability may indeed be relevant in some countries. The second model focuses on the effects of fiscal policy on real interest rates, and in particular on the relative importance o ...
... models. The first model focuses on sustainability and characterizes its determinants. It suggests that the issue of sustainability may indeed be relevant in some countries. The second model focuses on the effects of fiscal policy on real interest rates, and in particular on the relative importance o ...
Cover Page
... Wachovia Corporation Economics Group publications are distributed by Wachovia Corporation directly and through subsidiaries including, but not limited to, Wachovia Capital Markets, LLC, Wachovia Securities, LLC and Wachovia Securities International Limited. The information and opinions herein are fo ...
... Wachovia Corporation Economics Group publications are distributed by Wachovia Corporation directly and through subsidiaries including, but not limited to, Wachovia Capital Markets, LLC, Wachovia Securities, LLC and Wachovia Securities International Limited. The information and opinions herein are fo ...
NBER WORKING PAPER SERIES Matthew Canzoneri
... systematic component of the interest-rate rule governing monetary policy. A standard neo-Wicksellian model is embedded within our model. It is obtained by stripping out the banks and assuming that only cash is useful to households in transacting. There is a money (or cash) demand equation in the neo ...
... systematic component of the interest-rate rule governing monetary policy. A standard neo-Wicksellian model is embedded within our model. It is obtained by stripping out the banks and assuming that only cash is useful to households in transacting. There is a money (or cash) demand equation in the neo ...
Chapter 33
... occurrence of bad times, can it at least make them less damaging in terms of duration and severity? ...
... occurrence of bad times, can it at least make them less damaging in terms of duration and severity? ...
PPT - Ave Maria University
... – Many goods and services that do not have market value are not counted in GDP. • That is, goods and services that cannot be bought ...
... – Many goods and services that do not have market value are not counted in GDP. • That is, goods and services that cannot be bought ...
QA F582 National Economy
... New or improved products and may not be captured in the current index It is perfectly possible for essential items such as food to rise in price while less essential items such as plasma TVs fall. On average, the price of most items is rising. ...
... New or improved products and may not be captured in the current index It is perfectly possible for essential items such as food to rise in price while less essential items such as plasma TVs fall. On average, the price of most items is rising. ...
problems and solutions revized
... total factor productivity between the years? Problem 8.3: Assume an economy which is characterized by perfect competition in the goods and labor market, in which the owners of capital get one-third of national income, and the workers receive two-thirds. Assume a Cobb-Douglas aggregate production fun ...
... total factor productivity between the years? Problem 8.3: Assume an economy which is characterized by perfect competition in the goods and labor market, in which the owners of capital get one-third of national income, and the workers receive two-thirds. Assume a Cobb-Douglas aggregate production fun ...
Exercise 6 (+additional question) in Mankiw
... total factor productivity between the years? Problem 8.3: Assume an economy which is characterized by perfect competition in the goods and labor market, in which the owners of capital get one-third of national income, and the workers receive two-thirds. Assume a Cobb-Douglas aggregate production fun ...
... total factor productivity between the years? Problem 8.3: Assume an economy which is characterized by perfect competition in the goods and labor market, in which the owners of capital get one-third of national income, and the workers receive two-thirds. Assume a Cobb-Douglas aggregate production fun ...
Early 1980s recession
The early 1980s recession describes the severe global economic recession affecting much of the developed world in the late 1970s and early 1980s. The United States and Japan exited the recession relatively early, but high unemployment would continue to affect other OECD nations through to at least 1985. Long-term effects of the recession contributed to the Latin American debt crisis, the savings and loans crisis in the United States, and a general adoption of neoliberal economic policies throughout the 1980s and 1990s.